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Side-by-side financial comparison of CIENA CORP (CIEN) and Principal Financial Group (PFG). Click either name above to swap in a different company.
CIENA CORP is the larger business by last-quarter revenue ($1.2B vs $750.8M, roughly 1.6× Principal Financial Group). CIENA CORP runs the higher net margin — 4.1% vs 0.3%, a 3.9% gap on every dollar of revenue. Over the past eight quarters, CIENA CORP's revenue compounded faster (3.9% CAGR vs -58.3%).
Ciena Corporation is an American optical networking systems and software company based in Hanover, Maryland. The company has been described as a vital player in optical connectivity. The company reported revenues of $4.8 billion and more than 9,000 employees, as of November 2025. Gary Smith serves as president and chief executive officer (CEO).
Principal Financial GroupPFGEarnings & Financial Report
Principal Financial Group, Inc. (PFG) is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, United States.
CIEN vs PFG — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $750.8M |
| Net Profit | $50.3M | $1.9M |
| Gross Margin | 41.3% | — |
| Operating Margin | 6.0% | — |
| Net Margin | 4.1% | 0.3% |
| Revenue YoY | — | 4.0% |
| Net Profit YoY | — | 783.0% |
| EPS (diluted) | $0.35 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $750.8M | ||
| Q4 25 | — | $4.6B | ||
| Q3 25 | $1.2B | $3.7B | ||
| Q2 25 | $1.1B | $3.7B | ||
| Q1 25 | $1.1B | $3.7B | ||
| Q4 24 | $1.1B | $4.8B | ||
| Q3 24 | $942.3M | $3.0B | ||
| Q2 24 | $910.8M | $4.3B |
| Q1 26 | — | $1.9M | ||
| Q4 25 | — | $517.0M | ||
| Q3 25 | $50.3M | $213.8M | ||
| Q2 25 | $9.0M | $406.2M | ||
| Q1 25 | $44.6M | $48.1M | ||
| Q4 24 | $37.0M | $905.4M | ||
| Q3 24 | $14.2M | $-220.0M | ||
| Q2 24 | $-16.8M | $353.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 41.3% | — | ||
| Q2 25 | 40.2% | — | ||
| Q1 25 | 44.0% | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 42.9% | — | ||
| Q2 24 | 42.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 6.0% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 7.5% | — | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | -0.4% | — |
| Q1 26 | — | 0.3% | ||
| Q4 25 | — | 11.3% | ||
| Q3 25 | 4.1% | 5.8% | ||
| Q2 25 | 0.8% | 11.1% | ||
| Q1 25 | 4.2% | 1.3% | ||
| Q4 24 | 3.3% | 19.1% | ||
| Q3 24 | 1.5% | -7.3% | ||
| Q2 24 | -1.8% | 8.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.30 | ||
| Q3 25 | $0.35 | $0.95 | ||
| Q2 25 | $0.06 | $1.79 | ||
| Q1 25 | $0.31 | $0.21 | ||
| Q4 24 | $0.26 | $3.92 | ||
| Q3 24 | $0.10 | $-0.95 | ||
| Q2 24 | $-0.12 | $1.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.8B | — |
| Total Assets | $5.7B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | $1.3B | $5.1B | ||
| Q2 25 | $1.3B | $3.7B | ||
| Q1 25 | $1.2B | $3.9B | ||
| Q4 24 | $1.3B | $4.2B | ||
| Q3 24 | $1.1B | $6.2B | ||
| Q2 24 | $1.3B | $4.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.9B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $3.9B | ||
| Q2 24 | — | $3.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | $11.9B | ||
| Q3 25 | $2.8B | $11.7B | ||
| Q2 25 | $2.8B | $11.4B | ||
| Q1 25 | $2.8B | $11.2B | ||
| Q4 24 | $2.8B | $11.1B | ||
| Q3 24 | $2.9B | $11.2B | ||
| Q2 24 | $2.9B | $11.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | $341.4B | ||
| Q3 25 | $5.7B | $334.5B | ||
| Q2 25 | $5.7B | $323.1B | ||
| Q1 25 | $5.6B | $313.0B | ||
| Q4 24 | $5.6B | $313.7B | ||
| Q3 24 | $5.6B | $322.9B | ||
| Q2 24 | $5.6B | $308.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.33× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.36× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $174.3M | — |
| Free Cash FlowOCF − Capex | $134.6M | — |
| FCF MarginFCF / Revenue | 11.0% | — |
| Capex IntensityCapex / Revenue | 3.3% | — |
| Cash ConversionOCF / Net Profit | 3.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $605.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | $174.3M | $1.0B | ||
| Q2 25 | $156.9M | $811.9M | ||
| Q1 25 | $103.7M | $977.3M | ||
| Q4 24 | $349.4M | $1.5B | ||
| Q3 24 | $-159.4M | $1.1B | ||
| Q2 24 | $58.5M | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $134.6M | — | ||
| Q2 25 | $128.2M | — | ||
| Q1 25 | $76.8M | — | ||
| Q4 24 | $265.8M | — | ||
| Q3 24 | $-179.0M | — | ||
| Q2 24 | $41.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 11.0% | — | ||
| Q2 25 | 11.4% | — | ||
| Q1 25 | 7.2% | — | ||
| Q4 24 | 23.6% | — | ||
| Q3 24 | -19.0% | — | ||
| Q2 24 | 4.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 7.4% | — | ||
| Q3 24 | 2.1% | — | ||
| Q2 24 | 1.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.37× | ||
| Q3 25 | 3.47× | 4.70× | ||
| Q2 25 | 17.50× | 2.00× | ||
| Q1 25 | 2.33× | 20.32× | ||
| Q4 24 | 9.44× | 1.61× | ||
| Q3 24 | -11.20× | — | ||
| Q2 24 | — | 4.05× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CIEN
| Optical Networking | $815.5M | 67% |
| Routing And Switching | $125.9M | 10% |
| Platform Softwareand Services Segment | $90.0M | 7% |
| Maintenance Support And Training | $80.7M | 7% |
| Installation And Deployment | $65.9M | 5% |
| Blue Planet Automation Softwareand Services Segment | $27.8M | 2% |
| Consulting And Network Design | $13.6M | 1% |
PFG
Segment breakdown not available.
